The Human Resource Planning includes managerial activities that contribute to set the company’s future objectives. It also determines appropriate means and ways for achieving those objectives. Where as organizational planning facilitates the realization of the company’s future objectives and determines appropriate means for achieving those objectives. Human resource planning determines the determinants of changing job requirement. Technological advancement that requires introduction of new equipment, product, and process and invariably resulting in changes in jobs and job structure in an organization can be dealt with proper manpower planning. It is therefore, manpower planning is essential for the organization to meet the demands of future job requirements in order to survive and remain competitive. Otherwise, the organizations experiencing the effect of rapid technological change will face the shortages of skilled employees in the absence of effective human resource planning. Activities in Human Resource Planning Forecasting future human resource needs/ Demand forecasting: Demand Continue reading
HRM Concepts
Theories of Motivation: Abraham Maslow’s Need Hierarchy Model
In 1943, Abraham Maslow’s article, “A Theory of Human Motivation ” appeared in the Psychological Review, which were further expanded upon in his book: Toward a psychology of well being, Abraham H. Maslow attempted to formulate a needs-based framework of human motivation and based upon his clinical experiences with people, rather than as did the prior psychology theories of his day from authors such as Freud and B.F. Skinner, which were largely theoretical or based upon animal behavior. The basis of Maslow’s motivation theory is that human beings are motivated by unsatisfied needs, and that certain lower factors need to be satisfied before higher needs can be satisfied. According to Maslow, there are general types of needs (physiological, survival, safety, love, and esteem) that must be satisfied before a person can act unselfishly. He called these needs “deficiency needs.” As long as we are motivated to satisfy these cravings, Continue reading
Benefits of Work-Life Balance
Work-Life Balance doesn’t necessarily mean fewer hours at work. It is about people feeling satisfied by having an extent of control over how, when and where they work, how they can manage their time and stuffs they want and need to do. This balance is achieved when an individual’s right to a fulfilled life inside and outside paid work is accepted and respected as a norm, to the mutual benefit of the individual, business and society. The key aspect of work-life balance only from an employer’s viewpoint is numerous. They are of importance because providing an employee with a balanced work-life existence is for the employer and employee. For an example, if the employee is satisfied and happy, the whole exercise must make business sense to the enterprise. In 21st century, life is increasingly difficult with people managing multiple roles. Therefore, they will only stay with a job that offers Continue reading
Role of Human Resources in Business Environment Improvement
In order to improve the overall business environment, the organisation structure should be resolving its business trends with its various competitors. The Human resource management which is one of the best and which provides the solutions to the consumers and deals with the various issues which are mostly due to the members in the organisation which are efficiently approached with the various activities involved. The most important and key issues which relates by making use of the human resources which constitute which are planning of the human resource, recruitment of the various staff required for the organisation, performance management, giving training and development, relation between the members of the organisation. The various activities which the human resource management deals with the members of the organisation are allocating the various rules and the policies and the various means of the utilization of the human resource development. The various needs and necessities Continue reading
Job Analysis in Human Resources Management
Human resources management has to plan their activity to reach maximum level of organizational objective. Human resources personnel must have knowledge regarding skills required to perform various organizational jobs. Job analysis is done to get information regarding the requirement of skill, knowledge, experience, ability and other work related requirement. Definitions of job analysis by eminent scholars as; Edwin B. Flippo defined Job Analysis as the process of studying and collecting information relating to the operations and responsibilities of a specific job. According to Michael J. Jucius, “Job Analysis refers to the process of studying the operations, duties and organisational aspects of jobs in order to derive specification or job description “. According to Blum, “A job Analysis is an accurate study of the various job components. It is concerned not only with an analysis of the duties and conditions of work, but also with the individual qualifications of the worker.” Continue reading
Motivating Employees with Stock Options
Employee stock options plan is a company wide incentives plan whereby the company contributes shares of its own stock or cash to be used to purchase such stock to a trust established to purchase shares of the firm’s stock for employees. The firm generally makes these contributions annually in proportion to total employee compensation, with a limit of 15% of compensation. The trust holds the stock in individual employee accounts, and distributes it to employees upon retirement, assuming the person has worked long enough to earn ownership of the stock. Many companies use employee stock options plans to retain and attract employees, the objective being to give employees an incentive to behave in ways that will boost the company’s stock price. By issuing employee stock options as compensation, organizations can preserve and generate cash flow. The cash flow comes when the organizations issues new shares and receives the exercise price Continue reading